Date Published: 04/27/10

Ondo partners Italian firm for N40bn Tourism Village

Olusegun Mimiko

The Ondo State Government on Tuesday signed a Memorandum of Understanding (MoU) with an Italian firm, Messer IMP.E.S Italia S.R. L for the construction of a Tourism Village that would cost N40billion when completed.

Signing the MoU in his office, the State Governor, Dr Olusegun Mimiko disclosed that the Tourism Village Project to be sited around Ore, in Odigbo local government area of the State, was one of the projects conceived by his Administration to showcase the vast tourism potential of Ondo State and put it permanently on the world map.

Mimiko also disclosed that the project was being carried out in a joint venture format with Ondo State having 25% equity in the Project while IMP.E.S shall have the remaining 75% with a proviso that Ondo State Government is free to bring into the Joint Venture relationship with IMP.E.S other investors as part of its 25% equity contribution to meet its financial commitment to the Project.

The governor also disclosed that the project which is expected to be completed within three years would cost Ondo State Government N10billion while IMP.E.S would provide the balance of N30billion.

According to him, the Tourism Village would attract more people to the State to witness the wonders of its unique tourism potential.

展 hen completed, Ondo State would take its pride of place not only in Nigeria but in the world. The Tourism Village will have a standard football field, a 3,000 capacity theatre, a 3,000 capacity Conference Centre, two 5-Star hotels, one 6-Star hotel, a Shopping Centre of 18,000 square metres; 72 residential apartments in six blocks, an 18-hole golf course, 80 local shops, banking halls, post office, clinic; a lake , amusement park, swimming pools, museum and cultural centre, a water treatment plant for drinking water of about 120,000 litre per day, as well as a sewage treatment plant to service 4,000 inhabitants among others, 鋳 Mimiko revealed.

In his speech, the Managing Director/ Chief Executive Officer of I MP.E.S Construzioni Nig Ltd, Mr. Giorgio Melos assured that the project would be completed in record time and when completed, Ondo State would be the cynosure of all eyes.

He was full of praises for the Governor and his team for the commitment they had shown for the take off of the project saying that within the next few weeks work would commence on site